Schneier - Australia Increases Fines for Massive Data Breaches

After suffering two large, and embarrassing, data breaches in recent weeks, the Australian government increased the fine for serious data breaches from $2.2 million to a minimum of $50 million. (That’s $50 million AUD, or $32 million USD.)

This is a welcome change. The problem is one of incentives, and Australia has now increased the incentive for companies to secure the personal data or their users and customers.



from Schneier on Security https://www.schneier.com/blog/archives/2022/10/australia-increases-fines-for-massive-data-breaches.html

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